29260 Leeanne Lane
About This Property
Check out this great opportunity to own part of Bell Mountain right in the heart of Menifee, California's fastest growing city! This barely lived-in manufactured home sits on 16+ spacious acres with views of the fields and mountains to the east and yet it is located mere minutes to shopping, schools and I-215 access. Featuring a spacious 4 bedroom floor plan, this 2 year old home has a very open great room with kitchen, large master bedroom with spacious bathroom, 3 other bedrooms located on the opposite end of the house and laundry. Access to the property is off of Garbani Road and it is set pretty far back making this location very secluded and private. There is plenty of room for parking all your toys and equipment...or whatever your plans happen to be. The 16 acres wraps around the summit of Bell Mountain and offers loads of hiking opportunities as well as room for addition structures. This property will likely need a buyer capable of completing a detached garage on-site in order to obtain a certificate of occupancy from the city of Menifee. Please inquire with listing agent for details about this and other items concerning this property.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 25, 2025 | Sold | ||
| Sold | |||
| Nov 22, 2025 | In contract | - | |
| In contract | |||
| Oct 2, 2025 | Listed by McDermott Realty Group | $499,900 | |
| Listed by McDermott Realty Group | |||
| Jul 1, 2025 | Price Decreased |
$499,900
↓ $100K
(16.7%) | |
| Price Decreased | |||
| Jun 26, 2025 | Price Decreased |
$599,900
↓ $50K
(7.7%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017